Wellgistics Health, Inc. (NASDAQ: WGRX) announced that Executive Chairman Suren Ajjarapu and President & Interim Co-CEO Prashant Patel have exercised warrants previously issued to them, resulting in the issuance of 200,000 common shares at $10 per share.

The warrants were originally issued in connection with the conversion of the executives' outstanding salaries into common shares. Following the exercise, the company reports 2,847,198 common shares outstanding.

The shares issued through the warrant exercise have been added to existing lock-up agreements. The company confirmed that certain stockholders holding approximately 1,533,930 common shares, representing a majority of outstanding shares, are subject to lock-up agreements that prohibit the sale of those shares for at least 90 days from June 30, 2026.

Ajjarapu referenced a proposed corporate name change to DataMeds AI in a statement included in the press release, saying the company aims to align executive interests with those of stockholders and build on its existing pharmacy technology infrastructure.